Feutune Light Acquisition, a blank check company led by executives at Wui Kam USA and US Tiger Securities, filed on Monday with the SEC to raise up to $85 million in an initial public offering.
The Metuchen, NJ-based company plans to raise $85 million by offering 8.5 million units at $10. Each unit consists of one share of common stock and one warrant, exercisable at $11.50. At the proposed deal size, Feutune Light Acquisition would command a market value of $111 million.
The company is led by Chairman Ka Wai Cheung, the President and Chairman of investment company Wui Kam USA, and CEO Tony Tian, who serves as Managing Director and Head of Capital Markets at US Tiger Securities. The company is not limited to a particular industry or geographic region, but it will not pursue a combination with businesses based in or with majority of operations in China (incl. Hong Kong and Macau).
Feutune Light Acquisition was founded in 2022 and plans to list on the Nasdaq under the symbol FLFVU. Tiger Brokers and EF Hutton are the joint bookrunners on the deal.
